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RED-76-77 1 (1976-03-08)

handle is hein.gao/gaobaabnl0001 and id is 1 raw text is: n ; ¢99q),'9 SUNITED STATES GENERAL ACCOUNTING OFFICE , WASHINCTON, D.C. 20548 PII0UtCK5 ANO I9CONOMIC DIVILOP NT DIVISIONo MAR 8 1976 B-171500 LM099929 The Hionorable The Secretary of Housing and 16 .?? Urban Development Dear Mrs. Hills: ; GAO has reviewed HUD's rehabilitalion loan programs in Chicago and S.n Francisco to see whether (1) the programs are reaching property owners of low an.3 moderate incomes and/or limited economic circumstances ai.d (2) [IUD is making the most effective use of the limited funds available by restricting their use to repairs and improvements essential to restoring housing to a decent, safe, and sanitary condition. We concluded that the programs have considerably upgraded rundown properties and benefited their owners. tenants, and neighborhoods. However, in one Chicago Project, which received most of the rehabilitation funds for that city, 67 percent of the loans were made to Persons with annual incomes of $15,000 or cver. In San Francisco 46 percent of the loans we reviewed were maae to persons with annual incomes of $15,000 or over. In addition, many of the loans in the Chicago project and in San Francisco were used for major reconstruction and returbisaing in excess of that requied for decent, safe, and sanitary housing. Although such use of Lehabilitation loans is not pro- hibited by the pr'-ran's relevant legislation, we question the practice of makinq a large percentage of the loans in these projects to oersons with incomes higher than $15,000 and of making loans that w;e-e used foi major reconstriction and refurbishing woik in excess of that necessary for decent, safe, and sanitary housing. The rehabilitacion program has been extended through Augast 1976, at which time it will end unless the Congress further extends it. The repair and rehabilitation of hnusing, ibowever, is one of the activities that can be BEST DOCUMENT AVAILABRLE D F0I

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